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This month more than 2 million people will be able to buy MEP dollars, the cheapest on the market

2020-12-05T19:55:18.880Z


In this way, dollars can be purchased at $ 140, below the savings dollar and the blue dollar.Annabella quiroga 12/04/2020 11:54 Clarín.com Economy Updated 12/04/2020 11:54 In the unusual Argentine exchange market, two novelties begin to take shape with the arrival of December. The first is that the MEP dollar, which is accessed through operations on the Buenos Aires stock market, is the cheapest on the market: this Friday it opened at $ 140 , three and a half pesos below the savings dol


Annabella quiroga

12/04/2020 11:54

  • Clarín.com

  • Economy

Updated 12/04/2020 11:54

In the unusual Argentine exchange market, two novelties begin to take shape with the arrival of December.

The first is that the MEP dollar, which is accessed through operations on the Buenos Aires stock market, is the cheapest on the market: this Friday it

opened at $ 140

, three and a half pesos below the savings dollar.

The second is that demand in this segment

could grow exponentially

.

The reason is that the disqualification for

90 days

that left those who had bought savings dollars out of this operation

ends

.

In the market they estimate that there are now

2 million people

in a position to buy MEP dollars and that they could be tempted by current prices.

At the end of this week, the podium of the dollar price is headed by the blue dollar, with

$ 151,

followed by the cash with liqui -the operation that allows dollars to the country through transactions with bonds- with

$ 146

.

The third place is that of the saving dollar, which is valid for those who can access the monthly quota of US $ 200, with

$ 143.50

.

And then either the MEP dollar or the Stock Exchange dollar, the cheapest of all, with

$ 140.

The MEP dollar is free of most of the super-stock restrictions for the savings dollar that made today only 1 million people are allowed to buy.

In the MEP

 there is no maximum quota of dollars to buy per month

, nor is it affected by the Central Bank regulations that today prevent those who charge social plans or those who work in companies that received ATP from operating in the official.

Only those who have taken zero-rate loans or have mortgage or pledge loans with frozen installments are left out.

The restriction that remains in force is the one that slows

the back and forth between the MEP and the savings dollar.

That is, whoever used the quota of US $ 200 cannot operate in the MEP for 90 days.

And vice versa: who operates in the MEP will not be able to go to the officer for the next three months.

That is why many of those who bought savings dollars in the first days of September were unable to go to the MEP and

now they have that chance again.

How to buy MEP dollar

The MEP dollar is an operation that consists of buying bonds or shares in pesos and then exchanging them for the same title in dollars and selling them.

It is done with the money deposited in the client account.

In this way,

the customer who entered with pesos leaves with dollars.

The operation can also be inverse: dollars are transferred to buy a bond in that currency, which is then sold in pesos.

For this bond purchase and sale transaction, you have to pay

a commission of around 1%. 

To operate in the MEP it is necessary to open a client account in a brokerage agency, known in the market as ALYCS.

Most already allow you to do this online, uploading your personal data, a selfie and a photo of your ID.

Opening the account is free

.

There is no cost to close it or to transfer the money.

Once the account is open, you have to transfer pesos or dollars through homebanking.

Each stock company operates with a bank, so that the money from the principal account is deposited in a bank account and therefore

has the deposit coverage by the Central Bank.

Something similar happens with bonds and shares that are actually deposited in the Caja de Valores.

For those who have pesos and want to make dollars, there is a parking provided by the Central Bank for

two business days.

At the beginning of the stocks, that parking was 5 days.

So, whoever starts the operation this Friday the 4th with the purchase of a security in pesos has to wait two business days -that is, until Wednesday the 9th- to be able to sell it in dollars.

And it sells them at the price of the bond in dollars on October 9, which may be higher or lower than the value of the security on the day the transaction was entered.

To buy bonds with dollars and sell them in pesos there is no parking.

In that case, the transaction is resolved the same day, so there are usually no surprises in the price.

Once the operation is done,

the money is transferred to the holder's bank account

and can be withdrawn from there.

AQ

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Source: clarin

All business articles on 2020-12-05

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